World Insurance Report
PICC Property & Casualty
Gross premium income increased by 13% in 2004 but motor claims and weak stock markets weighed heavily on result
PICC Property & Casualty
China's largest non-life insurer PICC Property and Casualty Company (PICC) posted a disappointing 86% fall in net profits
to Yuan208mn (US$25mn) in 2004 due to a sharp increase in motor claims and the impact of weak domestic stock markets on the
com-pany's investment result.